The Future of Commerce and Payments Innovation are among the nine thematic “Deep Dive” content tracks that will be explored when financial technology (fintech) experts and enthusiasts gather in Barbados from January 24–26, 2024, at the Sam Lord’s Castle Wyndham Grand Barbados, for Fintech Islands Experience 2024 (FiX24).
From the smallest main street storefronts to gig economy marketplaces to global e-commerce giants, fintech solutions are enabling the future of where, when and how people shop. At the same time, powered by cryptocurrency, mobility, social networks, and new real-time solutions, the next chapter for digital payments is transforming business and providing more efficient, low-cost options for consumers.
During the COVID-19 pandemic, because of restrictions on movement, many businesses in the Caribbean adopted e-commerce solutions and contactless delivery services to reach both local and international markets. Co-founder and CEO of Fintech Islands, Allison Hunte, noted that over the last few years, businesses have thrived in this new fintech-driven commerce ecosystem. “From small boutiques in Trinidad in the South to agribusinesses in Jamaica in the North, companies are expanding their reach through online marketplaces and digital storefronts,” Hunte explained.
The Fintech Islands CEO added, “Regionally, entrepreneurs are taking advantage of digital technologies to expand their businesses beyond their immediate geographical boundaries, catering to niche markets and providing unique products. With the help of fintech solutions, businesses can now conduct secure online transactions and reach a wider range of customers locally, regionally and internationally.”
The adoption of these tools in the Caribbean will be at the heart of the discussions during the deep dive sessions on the future of commerce and payments innovation during FiX24.
Fintech is not only powering new ways to buy and sell products and services in the Caribbean but also providing innovative solutions to help small and medium-sized enterprises overcome logistical and financial hurdles by enabling access to online payment gateways, inventory management systems, and digital marketing tools. Fintech is helping to level the playing field for businesses, allowing them to compete with larger corporations more effectively. Through innovations in payment technology, such as near-field communication and QR code payments, there is a progressive shift towards a cashless society and democratized access to financial services.
The FiX24 team is looking forward to exploring with delegates, the fintech-driven future, where commerce and payments are no longer constrained by geographical boundaries or traditional financial intermediaries.